As such, it must be remembered that the S & P is not his first "mistake". In early August, when the deterioration in the rating of the United States, the agency had already deceived 2,000 billion in the calculation of the federal debt.

This lack of reliability of the agency does not affect the market reaction.Thursday, shortly after the dissemination of this false information to 3:57 p.m., the French rate on loans to ten years amounted to 3.46%, bringing the pay gap with German bonds of similar duration to a record 166 points percentage not seen since the creation of the euro.

Everyone to understand that France will soon be degraded

This Friday, at the opening transaction, rates eased around 3.36%, but markets have learned their lesson. In exchange, everyone understood that in case of deterioration in the rating of France, synonymous with loss of the "triple A", the rates of government bonds with ten years showed 3.46%, or 3 , 5%. This would mean that in this case, France would borrow twice from Germany!

The shock is harsh, but it is ultimately not so dramatic as that. A 3.46 or 3.5% borrowing conditions in France remain reasonable.

This mechanism, which takes its name from the famous dance that was all the rage in the 1960s, had just been used for the last time in 1961. Its objective is to reduce interest rates in the long run to give a boost to business investment and the demand for housing loans, which use these rates as reference.

The Fed, however, chose not to touch interest rates that determine the short-term rates. They remain between 0% and 0.25%.And they will remain at historically low levels until mid-2013, said a statement.

Market disappointment

In addition to this twist, and in order to support the mortgage market, the Fed will also buy real estate securities without increasing the size of its portfolio. For this, it will continue to reinvest the securities-backed real estate it owns as they fall due. But the FOMC said, instead of buying Treasury bonds as it did previously, she will buy securities backed by mortgage-agency mortgage refinancing para as Fannie Mae and Freddie Mac.

This double operation shows that the Federal Reserve, the economy remains very depressed."The latest economic indicators suggest a continued weak conditions in the labor market and unemployment remains high, the Fed said. There are significant downside risks weighing on economic prospects, including strains in global financial markets. " These findings are similar to those of the IMF, which announced Tuesday it had seen very sharp fall in its growth forecast for the U.S., in theory at a level insufficient to expect a decline in the unemployment rate, which remains very high, to 9.1%.

On Wall Street, where the launch of Operation Twist was widely anticipated, the operators retain the discretion not optimistic the U.S. economy. Shortly after the news release of the Fed, the Dow Jones, which evolved in equilibrium has shifted into the red.It closed down sharply from 2.49% to 11,124.84 points.

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Silvio Berlusconi wants the recovery plan accounts, announced on August 12 but already relaxed, be adopted urgently by senators to advance to the European Central Bank (ECB), which meets on Thursday that the commitments requested by the 'Europe "were held." But the only way to meet this deadline is likely to engage the confidence of his government, he has not yet decided to do. Some in his party, invite him to seek dialogue with the opposition.

ECB and Bank of Italy, however, urged governments to take responsibility for reducing the public debt.Saturday, Cernobbio (northern Italy), Jean-Claude Trichet has urged Italy not to "waste time" to adopt structural reforms "strong and decisive." Monday, his designated successor, the head of the Bank of Italy Mario Draghi, has called on Europeans to "not assume" that the ECB will continue to buy "temporary" sovereign debt. Hans-Werner Sinn, president of the German Institute for Economic Research (IFO), the ECB made a mistake by buying Treasury bills Italian: "Only she started doing that the government of this country backtracked on its policy rigorously, "he lamented in the daily La Stampa.

The assumption that the ECB will reduce or cease its purchases of government securities alarm the Italian political and economic circles of the peninsula. On Monday, the short rate differential between Italy and Germany has set a new record to 327 basis points (3.27%).It was 160 basis points in late May. This means that investors demand a risk premium higher and higher to accept to lend to Italy.

This first day of examination of the text will be marked by a general strike launched by the CGIL. The main union in the country – 5.8 million members – calls for a tax on wealth which the government objected. He denounces a rigor that the popular classes are the costs, while the highest incomes are relatively spared. The abandonment of a levy "solidarity" of 5% on incomes over 90,000 euros and 10% in excess of 150,000 euros adds water to his mill.

Possibility of waiving the rules for dismissal

But most importantly, credible reforms, the government promised to amend the Labour Code a very rigid dating from 1970.Sunday, the Senate Budget Committee gave substance to this commitment by adopting an amendment that relaxes the conditions for termination. If he were finally voted, it would be possible to derogate from labor law, by agreement or even industry company, signed with the unions. Welcomes the employers, but for the CGIL, it is a "diktat intolerable." Other confederations welcome the amendment with more philosophy. For the ICFTU, Catholic, the measure is "inappropriate", but should not overly concerned, "What the union allow a dismissal?" Asks she.

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In times of crisis more than ever, all inclusive, hallmark of Club Med, like and secure. Most tour operators would be more or less inspired to develop offers "house" all inclusive stays in hotels with different price points.

"The" all inclusive "is part of the DNA of Club Med. It is the heart of our product, said Anne Yannic, executive director of markets France, Belgium and Switzerland at Club Med. In a difficult economic environment, it is a reassuring promise. The formula has developed significantly since the financial crisis of 2008.All tour operators now offer all-inclusive club package. But the positioning high-end all-inclusive Club Med is unique. No one offers such a quality of service, except perhaps a few luxury hotels, but offer user-friendly that is also a hallmark of the Club. "

According to Patrice Caradec, CEO of Transat France (Look Voyages), the number of hotels clubs offered for French customers from 200 to 400 in five years. "Ten years ago, when ten French went in with a beach holiday tour operator, five opted for a formula club hotel, all inclusive, he says. Today is September Eventually, we will not sell more than that! "

Look Voyages already carries 75% of its sales in its 34 clubs Lookéa. These clubs are independent hotels from 150 to 200 rooms.Look Voyages ensures the filling of 80%, by signing contracts with their owners at least three years. Its own teams (10 to 20 people per club) make the animation.

Higher margins for tour operators

"With the Internet, which causes them to spend more and more tour operator, the formula is the most relevant, offering the best quality / price ratio, ensures Laurent Laforest, director of marketing for Look Voyages online cash advance. Club Med, which was once the preserve of the product club (animations, user-friendly, sports, child care), was copied by tour operators and hoteliers themselves. But the concept of club is not regulated, you can find everything and anything.The challenge is how to make its mark as a guarantee. "

This summer, for example, Thomas Cook France sells 72 hotels clubs (27 clubs Eldorador, the brand more upscale, 15 Villages Thomas Cook, 20 Aquatour clubs for customers in northern France, 10 Jumbo clubs, positioned entry ). "In deciding to go on the high end, Club Med has left a very important market segment. We have a lot of customers who come to us because Club Med has become too expensive for them, says Denis Wathier, Chairman of Thomas Cook France. The goal is a hundred clubs in two years. With the emergence of the Internet, tour operators must have something unique to offer. "

Another advantage is that the profitability of the formula."From the moment you sell a concept where you put the value added (animations, buffets, a specific decoration …) you can afford to sell the service more expensive, with higher margins," Wathier says Denis.

According to Laurent Laforest, clubs attract mainly couples (70% of customers) and families with children. "In a travel market in crisis, it is the segment that is resistant to the best tailor-made high-end", says he. "The demand increases and supply the following at the expense of traditional hotels, which are easily found on the Internet without going through tour operators," said Denis Wathier.

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In the summer of 2009, Yahoo and Microsoft and had forged an alliance in online search, the first confident marketing and PPC management to the second search engine. Six months after the agreement, Yahoo had enlisted the services of Shashi Seth, a deserter from Google and AOL, as vice president in charge of innovation search engine Yahoo.

"We launched more innovations and new products over the last 18 months than in the past five years, says Shashi Seth Le Figaro. We have succeeded in increasing the number of searches per session and attracted new users. "A success that Yahoo has replicated several major markets, including France, this fall.

Additional income

By giving Microsoft the technical management of its search engine, Yahoo has indeed been able to free up resources to improve its offer vis-à-vis the consumer. "Our strategy is based on three things: first, we build a search engine that provides answers, not just links, details Shashi Seth. Next, we broaden the horizon of research to not only find information for the user but also enable it to act on it, and finally, we focus on the mobile. "

In March, Yahoo has launched Instant Search in the U.S., which can provide results before they have finished typing the question (Direct Search).To be comprehensive, the motor adds to the Yahoo Web pages from the contents of its information categories (sports, finance, local information …). The group also launched an Internet search engine applications which sends its mobile application unearthed from his computer. Finally, Yahoo is working on customizing: eventually, the engine could explore Facebook and e-mail users, whose data are compiled in an index of private content to customize the search results. "Our role is to help users find information wherever it is. We seek to expand the sources of information in a neutral way, "says the boss of innovation Yahoo Search.

These innovations do not only attract users. They also result in additional income."We focus on user experience: if it is satisfied, he returns, will do more searches and clicks on ads more, analysis Shashi Seth. How to monetize that content also changes: before, they sold mostly text links, now it sells more advertising graphics (display) on the search engine. " A format that sells more expensive than sponsored links.

Many experts give little credence to these studies because most of them emanate from computer security specialists. For the record, other than McAfee is the world number two antivirus software.In addition, "less than 10% of companies report having experienced cyber attacks," said Jean-Paul Pinte, senior lecturer in strategic intelligence at the Catholic University of Lille. According to the specialist risk management and cyber terrorists of enterprises affected societies fear the bad publicity due to media coverage of cyber attacks.

Jean-Paul Pinte, "we know nothing of the legacy and financial losses suffered indirectly." He added: "If an attack is to relieve a company of sensitive information, loss of data will generate multiple costs, such as loss of competitiveness, or the upgrading of security."

"Hard to get a comprehensive view"

Director of the National Security Information Systems (Anssi), Patrick Pailloux abounds in this direction."When a site is the victim of an attack, he takes as an example, it is first blocked, causing a shortfall. Then we must add additional costs to set up a hotline strengthened. "And on the practices of industrial espionage initiated via the Internet," How can we measure in terms of losses that a competitor could steal ?, "asks the director of Anssi. Clearly, "it is difficult to get a comprehensive view of the problem," says he.

Despite these criticisms, these figures are held up to each event on Cybercrime. However dated, the estimated one trillion dollars of McAfee is authoritative. Last May, it appeared even in the "reminder" of the fourth Parliamentary Forum on Information Society in Geneva, on the initiative, among others, the United Nations.Trompe-l'oeil, the text quoted a source stamped Europol, the pharmacy police intergovernmental European Union, which actually refers to the numbers … the software publisher.

If governments do not hesitate to chopping these impressive figures, it is often necessary to legitimize, but costly reinforcement of their agencies against digital piracy. Or clear, make the pill easier to swallow from taxpayers. In January, the UK has estimated that cyber attacks cost him a whopping 27 billion pounds per year (32.2 billion euros) in a government study.An amount (by far) greater than the harm claimed by the United States … A few days before making public figure, London has announced the release of 650 million pounds over four years to "strengthen its cyber security " freecreditscore…

International cooperation in the war-horse

Without waving the national figures, France is no exception, as evidenced by the announcement of piracy Bercy in March. Patrick Pailloux it was for the state to "lead by example" to encourage companies to report piracy they wipe. The Director of Anssi said that 150 computers were then infiltrated by hackers to steal documents for the French presidency of the G20. "We were able to counter the threat," he goes on, noting that thirty experts have been mobilized for two months to "clean up" more than 130,000 positions in the Department.A communication that is timely, since Anssi plans to double its workforce (360 employees) by 2013.

Such methods may be distasteful, but experts and politicians agree: there is no time to waste on the face of digital crime. "For a long time in France, we thought that hacking and computer intrusions were not really dangerous, says Jean-Paul Pinte. But now we know that it's become a real business, and that the threat can come from anywhere: a simple USB key, hard drives or even photocopiers, which, connected to the Internet can become the target of hackers ".

Therefore, international cooperation, which requires significant resources, is "a priority," insists Patrick Pailloux. And for good reason: "90% of attacks are international," says the director of Anssi.In the columns of The Tribune, Laurent Wauquiez, Minister for European Affairs, recently recalled that a hacker "can be installed in Latvia, while in France to intervene through a Canadian site." He even considers urgent that Europe adopts "a kind of cyber-FBI-backed Europol" to stem the digital crime. And one last statistic to shoot, ensuring that "a user of thirty lost money in Europe over the last year" due to a hacker.

Businesses, prey selection

Having surveyed 45 U.S. companies in 2010, the Ponemon Institute found that on average, the financial damage caused by hackers and data theft was $ 3.8 million.Like that of McAfee, this figure is to be taken lightly, as though Ponemon shows his independence, his study was commissioned by ArcSight, a specialist in digital security. However, it appears that large groups are increasingly being targeted by hackers. Since the beginning of the year, the list of companies or institutions that have suffered cyberattacks has continued to grow. Sony has suffered more than ten attacks since mid-April, leading to theft of confidential data of more than 1 million customer accounts. Recently, Sega has had the same misfortune: the editor of the series of Sonic hedgehog found in mid-June have been stolen names, email addresses, birth dates and passwords of almost 1.3 million customers on its servers.Google or Citigroup also suffered cyber attacks.

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Now "illegal", the electoral truce in effect banned the demonstrations, but determined to hear their ras-le-bol of the crisis and unemployment, hundreds of youths were mobilized Saturday in the camp alternative to the Puerta del Sol in Madrid .Shouting "we are now illegal," an immense crowd welcomed Friday at midnight on the start of the truce, after, at the stroke of the clock, symbolically launched a "silent scream" of scotch tape on the mouth, arms raised to heaven.

"Apolitical" and "citizen"

Saturday morning, a thousand protesters still occupying the "village" of tents and plastic sheeting instead of blue madrilène.L agency Efe, based on counting a specialist company, puts the figure of 19,000 protesters Friday night to the Puerta del Sol and surrounding streets, crowded. Other media put the number at 25,000 to 60,000 in Madrid and throughout Spain. The movement has indeed spread throughout Spain under the slogan "Toma la plaza" (Takes place). It is present in 57 cities.The youth movement, building on its growing popularity, plays on the ambiguity of the law and the embarrassment of the government, repeating that he is "apolitical," "citizen" and that the days of Saturday and Sunday will be devoted to the pursuit of "reflection" collective. "We act in full respect of the truce election meetings will be held but no action will be decided," Lopez said Saturday, a spokesman.

"We do not want to overthrow the politicians, just to restore the level of concern of the street, told El Pais Gandara, a spokesman of the movement. "We are not anarchists, nor opponents of the system. We are just normal people "who want a form of participatory democracy.

This spontaneous mobilization, also called the May 15 Movement, was organized as the Arab revolt, via online social networks Twitter and Facebook and on the principle of "right to be indignant." Wednesday, El Pais had counted 10,000 participants in Madrid. The watchwords: the stranglehold of the major parties on Spanish politics, social injustice and the "corrupt politicians". In the background, an unemployment rate of 21.19%, the highest in the euro area, which affects almost half the age of 25.

Police Discrete

"I have great respect for those who demonstrate, they do so peacefully, and I understand that this is due to the economic crisis, in their desire to find a job," said on Friday the first Outgoing Minister Zapatero socialist on the radio Cadena Ser.

The police presence, despite a ban on protests, remained quiet throughout the evening, limited to a few police cars parked around the square. The government, embarrassed by this spontaneous movement occurred a week of regional and local elections on Sunday ahead disastrous for the Socialists, had said on Friday to show "understanding."The Interior Minister Alfredo Perez Rubalcaba, had suggested that police action could be avoided provided that no overflow takes place.

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A few hours earlier, the question of succession had already been given to the public by European leaders.Including Angela Merkel, then by the finance ministers of Austria and Spain. Some did not wait to know whether Dominique Strauss-Kahn would be prosecuted for speaking openly about his replacement.

John Lipsky, IMF number two just became number one acting. Photo credits: Haraz N. Ghanbari / AP

But the agreement was canceled Thursday Spyker said in a statement. "Since Hawt was unable to obtain necessary consents from its shareholders, both parties are obliged to cancel the agreement," said the document, noting that the two companies will lead discussions for possible cooperation "without being exclusive."

The spokesman for Saab Gunilla Gustavs, gave no details about the role of the report of the Embassy of Sweden, published on May 5 in the cancellation of the agreement between the Swedish brand and the Chinese producer. "Work continues to ensure funding in the short term and medium term," she said in comment on the decision of Spyker. "No deadline has been set for the discussions, but to reach an agreement remains our top priority easy payday loans."

Another Chinese group in the partnership

Hawt Motors automotive group was surprised by the decision of rupture. According to statements obtained by Xinhua, the marriage between Saab and Hawt was taken too Quickly.

But while Saab would not be lost. A partnership between the Swedish manufacturer, Hawt Beijing BAIC and the producer would be considered.According to a press Hawt, "it goes beyond a simple strategic partnership, promoting a common technology, which could further develop the production." For its part, Reuters says that the Chinese automaker Great Wall would still be interested in investing in Saab.

Following the cancellation of the agreement, analysts in the automotive sector, concerned about the future of the Saab brand. Tom Muller, an analyst Theodoor Glissen, announced that during the first three months of 2011, Spyker has spent nearly 70 million euros to keep the brand afloat. "The group lives on a daily basis, and not because he has no funds to meet future orders. It is already making money from its suppliers.

In 2008, a French employee earned 18,800 euros net on average per year. He saw his salary increase by 1% on average annually since 2004. Women earn less than 27% of men and less than 25 years earn 60% less than employees over 40 years. In the private sector, executives show average annual wage income of 38,800 euros, which means they are about three times better than a paid worker or employee.

In public, a government official earns 8,000 euros a staff of more territorial and 2500 more than a hospital worker.These are some lessons from the 2011 Survey of Employment and Earnings "of INSEE.

Underperforming academic specialties

More specifically this year, government statisticians are wondering if specialized training had a significant impact on employment and wages. Their response is positive. "For the same level of education, holders of professional specialties are generally less unemployed than graduates of academic specialty," say the authors of the study.

There are two types of specialized training in language INSEE, "a specialty of targeted professional training" (mechanics, accounting, healthcare, secretarial, trade payday loans in 1 hour…) or a specialty academic (humanities and social sciences, humanities, languages ​​…) . 61% of assets from 15 to 55 are in the first case, 12% in the second.A quarter do not fit into any category, either because they have no diploma (18%) or because they have a general education secondary school certificate type (8%).

The educational level is particularly important determinant of wages. 5 bins earn about 70% more than the CAP-BEP, with a premium for jobs related to accounting, finance, human resources, operation of the business or law.

Some specialties are finally learning is highly specific. Graduates in hospitality-tourism obtain value well their training if they have a job in this field and despite a high unemployment rate. Conversely, those in finance and accounting experience a low rate of underemployment and have pay above average, they work or not in their field of training.